Bio Vanillin Market to Reap Excessive Revenues by 2018 – 2026 | Leading Factors are Comax Manufacturing Corporation, Watkins Incorporated, and Borregaard LignoTech AB

Vanillin is a white crystalline powder with sweet aroma and flavor of vanilla. It is majorly found in the vanilla bean’s extract and is used as aromatic component and flavoring agent in the food and beverages industry. As a flavoring agent, it is used in confectionary, dairy and bakery products and as a fragrance ingredient, it is most widely used in the cosmetics and perfumes. In addition to its flavor and fragrance quality, bio vanillin is also used as an intermediate in chemical and pharmaceutical industries. For instance, in pharmaceutical industry, it has been used in the production of various drugs such as IL-dopa and IL-methyldopa.

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Market Dynamics
Increasing consumer preference towards natural ingredients in food and beverages and in personal care products is a major factor driving growth of the market. Bio vanillin is natural substitute to synthetic vanillin as it contains low calories and various antioxidants. Rising awareness, regarding these factors, is propelling demand for bio vanillin over synthetic vanillin, thereby aiding in growth of the market. Furthermore, production of bio vanillin through biotechnological processes involves reduced emission of greenhouse gasses and lesser amount of toxic by-products, as compared to synthetically produced vanillin. Thus, increasing environmental concerns is anticipated to fuel growth of the global bio vanillin market during the forecast period. However, high production cost of bio vanillin as compare to synthesized vanillin by chemical processes, is a major factor adversely affecting growth of the market.

Market Outlook
In terms of revenue, Europe dominated the global market for bio vanillin in 2017. Rising awareness regarding adverse effects of consuming artificial flavoring ingredients such as carvacrol, is fuelling demand for natural flavoring agents in food and beverages, thus, supporting growth of bio vanillin market. Carvacrol is an artificial flavoring ingredient and is associated with circulatory and respiratory depression coupled with cardiac failure. According to the United States Food and Drug Administration (USFDA), artificial flavors and artificial food colors (AFC), have potential to increase learning disabilities and behavior disorders.

Asia Pacific is expected to be fastest growing region during the forecast period. This is majorly attributed to steady growth of the food and beverages industry in emerging economies such as India and China. According to the data provided by India Brand Equity Foundation (IBEF), in 2016, the food processing industry in India contributed 14% to the GDP of the country and according to the Department of Industrial Policies and Promotion (DIPP), India received around USD$ 7.54 billion worth of Foreign Direct Investment through the food processing sector during 2000 to 2017.

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Key Players and Business Strategies
Major players operating in the bio vanillin market include Solvay S.A., Apple Flavors & Fragrances Group Co. Ltd., International Flavors & Fragrances Inc., Evolva Holding S.A., Omega Ingredients Ltd., Givaudan S.A., Camlin Fine Sciences Ltd., Comax Manufacturing Corporation, Watkins Incorporated, and Borregaard LignoTech AB.
Strategic collaborations, mergers and acquisitions, and product innovation are the key strategies adopted by major players operating in the bio vanillin market to retain their market share. For instance, in December 2013, Solvay S.A. announced to double its natural vanillin production capacity in Melle, France. The capacity extension was done majorly to cater to growing demand for natural ingredients and to enhance the capacity of its food and fragrances segment.

Bio Vanillin Market Taxonomy
Based on the end-use Industry, bio vanillin market is segmented into:
• Food and beverages
• Pharmaceuticals
• Chemicals
• Fragrances
• Personal care
• Detergents
• Others

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This release was published on openPR.